This article summarises the total Public Money spent on this CL Financial bailout and also outlines some further concerns.
CLF BAILOUT PAYMENT SUMMARY
| COST DETAIL | AMOUNT |
|---|---|
| CLICO | $15,833,458,958.00 |
| CIB | $1,870,659,526.00 |
| BAICO | $1,637,387,140.00 |
| CMMB | $736,079,577.00 |
| Interest & Finance | $5,802,921,235.96 |
| Accountants | $15,212,319.62 |
| Attorneys | $37,459,864.43 |
| Bankers | $7,934,991.40 |
| Stockbrokers | $6,624,173.58 |
| Services & Supplies | $2,410,000.57 |
| TOTAL | $25,950,147,786.56 |
Source – Correspondence with Finance Ministry PS
Various payment summaries and the CL Financial Management Accounts (unaudited) for 2015, 2016 and 2017 were provided thus far in response to my requests for information of 4th May 2018. Notwithstanding those details, the Ministry is yet to respond substantively to my requests, so I have instructed my attorneys to take the necessary steps to settle this request for information.
In January 2009, this bailout started with a $5.0 Billion estimated cost. In October 2010, we were told that $7.3 Billion had been spent and that a further $7.0 Billion was needed to pay all the claims – a total of $14.3 Billion. A compilation of the Ministry’s summary data, on which I am relying, show a total of $25.95 Billion in Public Money spent at this stage, taking no account of unsatisfied creditors.
What could possibly have accounted for this staggering increase in expenditure? Continue reading “CL Financial bailout – a summary”
The long oil/gas boom we enjoyed is drawing to a close, so we are now therefore forced to really deal with hard diversification questions to maintain the viability of our society.
Afra Raymond is with Ralph Maraj on i95.5FM discussing the hot topic of the day: the La Brea Dry Dock project. They cover the Government to Government Agreement; the contractor hired, the China Harbour Engineering; and the new Public Procurement System. Audio courtesy i95.5 FM
Afra was part of a distinguished panel of speakers at a pre-budget forum discussing the subject ‘Understanding Where We Are…Today – Trinidad and Tobago Economy”. This event was held by the Greater Tunapuna Chamber of Industry and Commerce. The secrecy of government-to-government or State projects are analysed with a conclusion that an educated population must be part of the diversity of views that become part of the modern national decision making process.
This is my second essay on the size and meaning of the Housing Gap. That is the gap between the beneficial intentions of the Housing Policy (2002) and the needs of the actual applicants, the neediest citizens, in this my Season of Reflection. The State Institution with responsibility to close that gap is the Housing Development Corporation (HDC). The Land Settlement Agency has responsibility for providing serviced lots but that is a minor part of the output.
Afra Raymond is interviewed by Hema Ramkissoon on CNC3’s ‘Morning Brew’ on Monday 10th September 2018 to discuss the recently-announced 
The inescapable challenge for our national housing program is to provide sufficient affordable housing options of a decent quality. The HDC’s waiting-list is now in excess of 176,000 individual applicants, which excludes co-applicants or dependents. Over 90% of those applicants cannot afford a mortgage or to ever buy their own homes. They are just too poor to do so.
Afra Raymond, based on his research on the effectiveness and delivery metrics of the existing housing policy, was interviewed on the Power 102.1FM ‘Business Corner‘ by Sandrine Rattan on Housing Policy and outcomes.
AfraRaymond.net 